Following Tesla’s historic 100,000 vehicle order from Hertz the lithium / battery stocks enjoyed an understandably strong Tuesday with Pilbara (PLS) +8.1% and ORE +4% two definite standouts. Following its more than 20% correction in recent weeks MM had transitioned to a bullish stance towards ORE and the lithium sector – we recently bought PLS for our Emerging Companies Portfolio and the ACDC ETF for the Global Macro ETF Portfolio.
We are still looking for another 10% upside from the likes of PLS and ORE before we might “take some money off the table”. This has a very similar look and feel as IGO Ltd (IGO) which we may also cut into fresh highs.
MM is bullish ORE targeting fresh highs
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